EQS-Adhoc: Formycon AG publishes preliminary figures for the 2025 fiscal year

Disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

Formycon AG publishes preliminary figures for the 2025 fiscal year

• Strong increase in Group revenues in the fourth quarter, but full-year revenues still expected to remain below guidance
• Group EBITDA expected to be at the upper end of the expected range
• Adjusted EBITDA as well as working capital expected to be improved versus guidance

Planegg-Martinsried, Germany, March 4, 2026 – Based on preliminary and unaudited figures, Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) ("Company" or "Formycon") expects Group revenues for the 2025 fiscal year to amount to approximately € 45 million. Despite a strong increase in the fourth quarter, total revenues are below the previously communicated forecast range of € 55 million to € 65 million. This is partly due to longer negotiations to conclude further commercialization and development partnerships, for example for the Keytruda^®1 biosimilar candidate FYB206, in order to optimize their financial terms. In addition, recognition of milestone events anticipated for Q4 shifted to the first quarter of 2026. Furthermore, while revenue contributions from FYB202 increased significantly in Q4, the product is still in the early phase of commercialization and did not ramp up as quickly as expected.

In this context, based on the results of the impairment test available to date, the company expects that the valuation model and balance sheet measurement for FYB202 will need to be reviewed and adjusted to reflect this slower ramp up. According to Formycon’s commercialization partners, market uptake of FYB202 is developing positively. However, despite encouraging political signals, the pharmacy benefit market (PBM) in the U.S. is still opening only gradually. Based on preliminary calculations, the company expects an extraordinary, non-cash and non-EBITDA-relevant impairment requirement in the low to mid double-digit million range.

The Group’s earnings before interest, taxes, depreciation and amortization (Group EBITDA) for the 2025 fiscal year is expected to amount to approximately € -12 million, at the upper end of the forecast range of € -20 million to € -10 million. Adjusted consolidated earnings before depreciation and amortization (Group adjusted EBITDA), which also shows the total income of the FYB201 ranibizumab biosimilar, is expected to be approximately € -7 million, which is above the most recently communicated forecast range of € -20 million to € -10 million. The significantly better-than-expected at-equity result (approx. € 5 million) from the 50% stake in Bioeq AG mainly benefited from the upfront payment from the partnership of FYB201/Nufymco^®2.

The Company expects a further improvement in working capital to approximately € 73 million, which is significantly above guidance. Due to the € 70 million corporate bond placed in July 2025, Formycon had already raised its forecast for this key figure from the original € 25 million to € 35 million to € 55 million to € 65 million upon publication of its half-year results for 2025. Significant upfront payments in connection with initial partnerships for the Keytruda^® biosimilar candidate FYB206 in 2025, strict cost management and efficiency improvements contributed to a further increase.

The final financial figures and further information on the 2025 financial year as well as the outlook for 2026 will be published on 26 March 2026 with the annual report for the 2025 financial year on the website under Publications - Formycon AG .

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1. Keytruda® is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co, Inc, Rahway, NJ/USA
2. Nufymco® is a registered trademark of Formycon AG

Contact
Sabrina Müller
Director Investor Relations & Corp. Communications
Formycon AG,
Fraunhoferstraße 15,
82152 Planegg/Martinsried,
Germany

Phone +49 (0) 89 - 86 46 67 149 | Fax + 49 (0) 89 - 86 46 67 110
ir@formycon.com // www.formycon.com

Disclaimer

Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the words "may", "will", "should", "plan", "expect", "anticipate", "estimate", "believe", "intend", "project", or "target" or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, predictions, opinions or plans that are inherently subject to significant risks, uncertainties and uncertainties that are subject to change. The Company makes no representation and does not make any representation that any forward-looking statement will be achieved or prove to be accurate. Actual future business, financial condition and results of operations and prospects may differ materially from those projected or projected in the forward-looking statements. Subject to applicable legal requirements, neither the Company nor any other person intends to update, review, revise or conform to actual events or developments any forward-looking statements contained in this announcement, whether as a result of the availability of new information, new developments in the future or otherwise, nor does they assume any such obligation.

2285968  04-March-2026 CET/CEST